Recently, the world’s largest stablecoin USDT has once again been pushed to the forefront of public opinion.
In the beginning, a user shared a post on the forum titled “Tether makes sneaky terms updates again.”
It pointed out that the USDT issuer Tether has revised the rules :
This is not the first time the USDT has been questioned.
As the first Stablecoin in the market, the negative news around USDT has never stopped. It has been doubted for over-issuance, insufficient reserves and lack of supervision. However, this stablecoin, which was issued at the end of 2014, finally stand out and became the most popular stablecoin.
All because it is needed by the market.
The market needs a stablecoin to avoid volatility. More importantly, people’s perceptions of traditional currencies are actually deep-rooted. By anchoring traditional currencies, the confidence to cryptocurrencies can be greatly increased.
USDT is no longer safe, so look for the next one.
However, the modification this time has verified that USDT is not 100% backed by US Dollars.
We need another option, a safer and more convenient stablecoin.
At present, many new Stablecoins JP Morgan’s JPM coin and Facebook’s “coin” are worth paying attention to. Of course, there are also PAX (Paxos), USDC (USD Coin), TUSD (TrueUSD) and EUSD (Epay USD).
It’s still too early to say which competitor is best positioned to win long term. but can’t deny that the competition from its many rivals is heating up.